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The U.S. Commerce Department released the business inventories data on Thursday. The U.S. business inventories rose by 0.2% in October, in line with expectations, after a 0.3% gain in September.
Business sales declined 0.8% in October.
Sales by manufacturers rose 0.4%, while sales by wholesalers were up 0.2%.
The business inventories/sales ratio remained unchanged at 1.30 months in October. The business inventories /sales ratio is a measure of how long it would take to clear shelves.
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